VeriFone Pursues Managed Merchant Services in Emerging Markets
VeriFone Holdings has announced "formation of VeriFone Access to provide merchant hosted services for managing electronic payments, beginning in Mexico. VeriFone Access was formed with VeriFone’s investment and in partnership with Tienda-kit, an innovative Mexican third-party acquirer and merchant services provider, which now operates as VeriFone Access."
VeriFone Access will offer a variety of merchant payment services in Mexico and other emerging economies. The company’s first offering will be a hosted managed service platform based on a proprietary transaction handling technology and on VeriFone’s PAYware software products.
“Managed services are an increasingly important component of VeriFone’s strategy to broaden acceptance of electronic payment and increase the delivery of value added services,” said Douglas G. Bergeron, chairman and CEO of VeriFone. “VeriFone Access will provide cost-effective access to web-based hosted products that provide merchants and acquirers with increased flexibility and enhanced communications.”
VeriFone Access will provide small and medium sized merchants with access to managed services over broadband and wireless connections. With this new offering, those merchants can now take advantage of increasing customer preferences for credit and debit card-based purchases and collections, including monthly installment payments, utilities payments, as well as new and loyalty programs.
The VeriFone Access managed service platform will incorporate payment authorization; estate management; front- and back-end services; value-added payment card management; digital product distribution services and comprehensive card issuance and management products.
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